ANANTRAJ - Anant Raj
📢 Recent Corporate Announcements
Anant Raj Limited has confirmed that the Enforcement Directorate (ED) visited its offices and the premises of certain officers to seek information regarding past investment disposals in an associate company. The company stated that it has provided all necessary documents and clarifications to the authorities and is cooperating fully. Management emphasized that these proceedings have no impact on its core Real Estate, Data Center, or Cloud operations, which continue as usual. While the company maintains high governance standards, such regulatory scrutiny typically requires close monitoring by shareholders.
- Enforcement Directorate (ED) conducted search proceedings at company offices and officer premises.
- Investigation pertains to the disposal and sale of investments in an associate company in the past.
- Company confirms full cooperation and submission of all requested documents and information to the ED.
- Management reports zero quantifiable impact on financial or operational activities across all business segments.
- Disclosure follows a clarification request from the National Stock Exchange (NSE) regarding recent news reports.
Anant Raj Limited has approved the incorporation of a wholly owned subsidiary in Singapore named Anant Raj Cloud Singapore Pte. Ltd. The new entity will focus on providing data center, co-location, and cloud services, including Artificial Intelligence (AI) solutions. The initial capital is set at SGD 1,000 (1,000 shares at SGD 1 each), with plans to increase share capital post-incorporation. This move marks a strategic international expansion to support the parent company's growing data center business.
- Incorporation of 100% wholly owned subsidiary 'Anant Raj Cloud Singapore Pte. Ltd.'
- Focus on high-growth sectors: Data Centers, Cloud Services, and Artificial Intelligence (AI)
- Initial subscription of 1,000 shares at SGD 1 per share, totaling SGD 1,000
- Strategic move to provide services from data centers being developed by Anant Raj
- Commitment to increase share capital following the formal incorporation process
Anant Raj Limited has approved the incorporation of a wholly-owned subsidiary in Singapore, named Anant Raj Cloud Singapore Pte. Ltd. This new entity will focus on providing Data Center, Co-location, and Cloud services, including specialized Artificial Intelligence (AI) services. The initial investment is a nominal SGD 1,000 for 1,000 shares, with plans to increase the share capital post-incorporation. This move marks a strategic international expansion of the company's digital infrastructure business to leverage global demand for AI and cloud computing.
- Incorporation of 100% wholly-owned subsidiary 'Anant Raj Cloud Singapore Pte. Ltd.' in Singapore.
- Business scope covers Data Center, Co-location, and Cloud services including AI-driven solutions.
- Initial subscription of 1,000 shares at SGD 1 each, totaling SGD 1,000, with capital to be increased later.
- Strategic alignment to provide services from Data Centers currently being developed by the parent company.
Anant Raj Limited has approved the incorporation of a wholly owned subsidiary in Singapore named Anant Raj Cloud Singapore Pte. Ltd. This new entity will focus on providing Data Center, Co-location, and Cloud services, including Artificial Intelligence (AI) services. The initial subscription consists of 1,000 shares at SGD 1 each, with plans to increase capital post-incorporation. This move is designed to leverage the data centers currently being developed by the parent company for global service delivery.
- Incorporation of 100% wholly owned subsidiary 'Anant Raj Cloud Singapore Pte. Ltd.' in Singapore
- Focus on high-growth sectors: Data Centers, Cloud services, and Artificial Intelligence (AI)
- Initial capital subscription of SGD 1,000 (1,000 shares at SGD 1 per share)
- Subsidiary will provide services specifically from data centers developed by Anant Raj Limited
- Company plans to increase the share capital of the subsidiary after the formal incorporation
Anant Raj Limited has confirmed that the Enforcement Directorate (ED) visited its offices and premises of certain officers on April 24, 2026. The investigation is focused on the disposal and sale of investments in one of the company's associate firms in the past. The company stated that it has provided all necessary documentation and is cooperating fully with the authorities. Management emphasized that core business activities in Real Estate, Data Centers, and Cloud Operations remain unaffected by these proceedings.
- ED officials visited company offices and officer premises on April 24, 2026
- Inquiry relates to the sale of investments in an associate company from a past period
- Management confirms no disruption to Real Estate, Data Center, or Cloud business segments
- Company maintains that high standards of corporate governance and compliance were followed
Anant Raj Limited has modified its collaboration agreement with Destination Properties Private Limited for a residential group housing project in Gurugram. The project spans a total land parcel of 5.0875 acres, with the partner contributing 2.25 acres. The key amendment involves shifting from an area-sharing model to a revenue-sharing model, where the partner will now receive 17.69% of the total project revenue. Anant Raj retains exclusive rights for development, marketing, and sales, ensuring full operational control.
- Project to be developed as a Group Housing Project over 5.0875 acres in Gurugram
- Partner Destination Properties Private Limited will receive 17.69% of total project revenue
- Anant Raj Limited holds exclusive development, marketing, and sales rights for the project
- Partner will reimburse the company for costs incurred in acquiring Transferable Development Rights (TDR)
- Revenue sharing will be conducted on a periodic basis through a RERA-compliant mechanism
Anant Raj Limited has scheduled an in-person group meeting with analysts and institutional investors on March 9, 2026. The event, titled 'Data Center Day,' is organized by JM Financial and will take place in Mumbai. This meeting highlights the company's focus on its data center business segment, which is a key growth area for the firm. The company has clarified that no unpublished price sensitive information will be shared during the session.
- Meeting scheduled for Monday, March 9, 2026, in Mumbai.
- Organized by JM Financial under the specific theme 'Data Center Day'.
- Format is an in-person group meeting with various analysts and institutional investors.
- Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Anant Raj Limited has scheduled two major investor interactions for March 2026 to engage with institutional stakeholders. The first meeting will take place at the Investec Promoter & Founder Conference in Mumbai on March 9, 2026. This will be followed by an international engagement at the UBS Emerging India Mid-caps Corporate Day in Singapore on March 11, 2026. Both events will feature in-person one-on-one and group meetings, though the company noted that no unpublished price sensitive information will be disclosed.
- Participation in Investec Promoter & Founder Conference in Mumbai on March 9, 2026
- Scheduled attendance at UBS Emerging India Mid-caps Corporate Day in Singapore on March 11, 2026
- Meetings will be conducted in-person through both one-on-one and group formats
- Company confirms no unpublished price sensitive information (UPSI) will be shared
Anant Raj Limited has announced its participation in two upcoming institutional investor conferences in March 2026. The first engagement is the Investec Promoter & Founder Conference in Mumbai on March 9, 2026. This will be followed by the UBS Emerging India Mid-caps Corporate Day in Singapore on March 11, 2026. These meetings will involve one-on-one and group interactions with institutional investors to discuss the company's business outlook without sharing unpublished price sensitive information.
- Participation in Investec Promoter & Founder Conference 2026 on March 9 in Mumbai.
- Scheduled for UBS Emerging India Mid-caps Corporate Day on March 11 in Singapore.
- Meetings will be conducted in both one-on-one and group formats.
- Company explicitly stated that no unpublished price sensitive information (UPSI) will be discussed.
Anant Raj Limited has informed the exchanges about an upcoming in-person meeting with a Finnish delegation scheduled for February 20, 2026, in Delhi. The meeting is planned as a one-on-one or group interaction to discuss business prospects, although the company has clarified that no unpublished price sensitive information will be shared. This disclosure is a routine compliance requirement under Regulation 30 of SEBI (LODR) Regulations, 2015. Investors should note the company's ongoing engagement with international entities which may signal future expansion or collaboration interests.
- In-person meeting with a Finnish delegation scheduled for February 20, 2026.
- The meeting will take place in Delhi as a one-on-one or group session.
- Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
- Company confirmed that no unpublished price sensitive information (UPSI) will be shared during the meet.
Anant Raj Limited has scheduled an institutional investor meeting for February 17, 2026. The event is the PhillipCapital Data Center Conference held at Trident BKC in Mumbai. This meeting provides a platform for the company to interact with analysts and investors regarding its business prospects, particularly in the data center segment. The company has clarified that no unpublished price sensitive information will be shared during these sessions.
- Meeting scheduled for February 17, 2026, at Trident BKC, Mumbai.
- Event organized by PhillipCapital India specifically focusing on the Data Center sector.
- Disclosure made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements.
- Interaction will be in-person and include group meetings with institutional investors.
Anant Raj Limited's subsidiary, Anant Raj Cloud, has entered into a strategic collaboration with Spain-based Submer Technologies to develop AI-ready datacenters across India. The partnership will deploy high-density, liquid-cooled infrastructure at Anant Raj's existing campuses in Manesar and Panchkula to support GPU-intensive AI workloads. This move is part of the company's broader strategy to reach a total datacenter capacity of 307 MW by FY32. By integrating Submer's InferX platform, Anant Raj aims to provide sovereign and sustainable AI compute services to enterprise and public-sector customers.
- Strategic partnership with Submer Technologies for modular, liquid-cooled AI infrastructure.
- Focus on high-density GPU workloads at Manesar and Panchkula campuses in Haryana.
- Anant Raj Cloud targets a total capacity of 307 MW by FY32.
- Collaboration leverages Submer’s InferX platform for sovereign AI and inference services.
- Aligned with Union Budget 2026-27 incentives for AI datacenter and semiconductor ecosystems.
Anant Raj Limited has submitted a report regarding share transfer requests received during a special SEBI-mandated window from December 1, 2025, to January 6, 2026. Only one request was received during this period for the transfer-cum-demat of physical shares. This single request was processed within the timeframe but was ultimately rejected. The filing is a routine compliance requirement following SEBI circulars on physical share transfers.
- Total of 1 request received during the special window period from Dec 1, 2025, to Jan 6, 2026
- 100% of received requests (1 out of 1) were processed by the company's registrar
- The single request received was rejected, resulting in 0 approved transfers
- Average time taken for processing the request was 23 days
Anant Raj Limited has announced an upcoming meeting with analysts and institutional investors scheduled for January 30, 2026. The meeting will be held in person in Mumbai and will consist of both group and one-on-one sessions. The company has explicitly stated that no unpublished price-sensitive information will be shared during these discussions. Such meetings are standard practice for listed companies to engage with the investment community and discuss general business outlooks.
- Meeting date set for Friday, January 30, 2026, in Mumbai.
- Format includes both Group and One-on-One in-person interactions.
- Disclosure made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
- Company confirms no unpublished price sensitive information (UPSI) will be disclosed.
Anant Raj Limited reported a strong Q3 FY26 with PAT rising 30.68% YoY to ₹144.23 Cr and Revenue from Operations up 20% to ₹641.59 Cr. The company is aggressively pivoting towards the Data Center segment, having raised ₹1,100 Cr via QIP to fund this expansion. Operational Data Center capacity currently stands at 28 MW, with a long-term roadmap to reach 357 MW, including a new ₹4,500 Cr investment plan in Andhra Pradesh. Real estate operations remain robust with significant luxury launches like 'The Estate One' planned for Q4 FY26.
- Q3 FY26 PAT increased 30.68% YoY to ₹144.23 Cr with PAT margins expanding by 155 bps to 21.84%.
- Successfully raised ₹1,100 Cr through QIP to scale the high-growth Data Center and Cloud Infrastructure business.
- Data Center revenue for 9M FY26 reached ₹101.99 Cr with total planned capacity revised upwards to 357 MW.
- Announced a ₹4,500 Cr investment in Andhra Pradesh for a 50 MW Data Center, IT Park, and Cloud Services.
- Real estate segment pipeline includes the 1.09 msf 'The Estate One' launch in Q4 FY26 and a 83-acre low-cost land bank.
Financial Performance
Revenue Growth by Segment
Total revenue from operations grew 23% YoY to INR 630.79 Cr in Q2 FY26. The Data Center infrastructure and allied services segment contributed INR 35.47 Cr in Q2 FY26 and INR 58.42 Cr in H1 FY26, representing a significant scaling of this new vertical. Overall H1 FY26 revenue grew 24.22% YoY to INR 1,223.2 Cr.
Geographic Revenue Split
The company has a high geographic concentration with the majority of revenue derived from the National Capital Region (NCR), specifically Haryana. Major projects are located in Sector 63A Gurgaon, Neemrana (Rajasthan), and a new project in Tirupati. Specific percentage splits per region are not disclosed, but NCR remains the primary revenue driver.
Profitability Margins
Profitability showed strong upward trends; PAT grew 30.79% YoY to INR 138.18 Cr in Q2 FY26. PAT margin improved to 21.56% from 20.17% YoY. For H1 FY26, PAT grew 34.28% YoY to INR 264.08 Cr with a margin of 21.24%, up from 19.56% YoY, driven by higher-margin data center services and efficient residential sales.
EBITDA Margin
EBITDA margin for Q2 FY26 stood at 27.76%, a significant increase from 23.62% in the previous year. EBITDA for the quarter was INR 177.94 Cr, up 43.85% YoY. H1 FY26 EBITDA margin was 27.23% (up from 23.52%), reflecting improved operational efficiency and a shift toward higher-margin infrastructure leasing.
Capital Expenditure
The company successfully completed a QIP of INR 1,100 Cr in Q2 FY26 to fund its expansion. It is investing heavily in its Data Center vertical, with the first phase of the project scheduled for completion by FY28. Debt for the residential business was reduced from INR 152 Cr to INR 47 Cr as of March 31, 2025.
Credit Rating & Borrowing
The company holds an IVR A/Stable and IVR A3+ rating. It has transitioned to a net zero-debt and surplus cash position as of Q2 FY26, having prepaid INR 125 Cr of debt during the quarter. Debt to CFO ratio was a very healthy ~0.1 as of March 31, 2025.
Operational Drivers
Raw Materials
Primary raw materials include steel, cement, and electrical components for data center infrastructure. While specific percentage costs for each are not disclosed, they constitute the bulk of the project development cost for the residential and data center segments.
Import Sources
Not specifically disclosed, but materials are primarily sourced domestically within India to support NCR-based projects.
Capacity Expansion
The company is scaling its Data Center vertical under Anant Raj Cloud Private Limited. The first phase of the Data Center project is on track for completion by FY28. Residential projects continue in Sector 63A Gurgaon and affordable housing in Tirupati.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the company manages costs through its long-standing presence in the NCR market and established procurement networks.
Manufacturing Efficiency
Efficiency is reflected in the EBITDA margin expansion to 27.76%. The company focuses on high-demand areas like Sector 63A Gurgaon to ensure rapid inventory turnover.
Logistics & Distribution
Not applicable as a primary metric for real estate and data center leasing, though project site logistics are managed internally.
Strategic Growth
Expected Growth Rate
24%
Growth Strategy
Growth is driven by the aggressive expansion of the Data Center vertical, where rentals are expected to rise from INR 50 Cr in FY26 to over INR 100 Cr in the medium term. This is complemented by the completion of high-end residential projects in Gurgaon and the utilization of INR 1,100 Cr raised via QIP for debt reduction and project acceleration.
Products & Services
Residential apartments (Sector 63A Gurgaon), affordable housing units (Neemrana and Tirupati), commercial office spaces (Sector 44 Gurugram), leased hotel properties, and Data Center infrastructure/allied services.
Brand Portfolio
Anant Raj, Anant Raj Cloud.
New Products/Services
Expansion into Data Center infrastructure is the primary new service, expected to contribute over INR 100 Cr in annual rentals in the medium term.
Market Expansion
Expanding beyond NCR with an affordable housing project in Tirupati and scaling the cloud/data center business to serve global tech players and BFSI clients.
Market Share & Ranking
The company is one of the oldest development groups in the NCR, having completed over 280 lakh square feet of area.
Strategic Alliances
The company operates various subsidiaries and joint ventures, including Grandstar Realty Private Limited and Anant Raj Cloud Private Limited.
External Factors
Industry Trends
The industry is seeing a massive shift toward data localization and secure hosting. Anant Raj is pivoting from pure-play real estate to a hybrid model including digital infrastructure to capture this growing demand from hyperscalers.
Competitive Landscape
Faces intense competition from other large-scale developers in the NCR region and specialized global data center operators.
Competitive Moat
Moat is built on a massive land bank in prime NCR locations and a 40-year execution track record. The high entry barriers of the Data Center business (capital intensity and technical compliance) provide a sustainable competitive advantage.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles and urban housing demand in India. The shift toward digital sovereignty in India is a major tailwind for the Data Center business.
Consumer Behavior
Increasing preference for premium residential units in Gurgaon and a shift by corporate clients toward secure, compliant third-party data hosting.
Geopolitical Risks
Minimal direct exposure, though global tech player investments in Indian data centers are influenced by international trade and data localization policies.
Regulatory & Governance
Industry Regulations
Operations are governed by RERA (Real Estate Regulatory Authority) for residential projects and specific IT/Data Center policies for the cloud vertical. Compliance with the Companies Act 2013 and Ind-AS is maintained.
Environmental Compliance
The company publishes a Business Responsibility and Sustainability Report (BRSR) as per SEBI regulations to track ESG compliance.
Taxation Policy Impact
Dividend income is now taxable in the hands of shareholders effective April 1, 2020, per the Finance Act 2020. The company complies with Ind-AS standards.
Legal Contingencies
A Corporate Insolvency Resolution Process is pending against the subsidiary Grandstar Realty Private Limited. No other material orders from regulators impact the company's status as a going concern.
Risk Analysis
Key Uncertainties
The primary uncertainty is the occupancy ramp-up for the Data Center business; failing to reach 30% occupancy would significantly lower projected cash accruals.
Geographic Concentration Risk
High risk with nearly all major projects concentrated in the Haryana/NCR real estate market.
Third Party Dependencies
Dependency on hyperscalers and BFSI clients for the success of the Data Center vertical.
Technology Obsolescence Risk
Data center infrastructure requires constant upgrading to meet the needs of global tech players; the company is addressing this through its dedicated Anant Raj Cloud vertical.
Credit & Counterparty Risk
Exposure to group and related entities is a weakness, with loans and advances to subsidiaries totaling INR 533.90 Cr as of March 31, 2024.